Newell Rubbermaid closes sale of hardware unit

ATLANTA (AP) -- Consumer products company Newell Rubbermaid on Wednesday said it completed the sale of its hardware business to investment firm Nova Capital.

Newell Rubbermaid announced the deal last month, saying it was selling the business for about $214 million in overall proceeds before taxes. The Atlanta company will receive after-tax proceeds of about $175 million.

The hardware business includes the Amerock, Ashland, Bulldog and Shur-Line brands.